EUR/USD appears offered around 1.1550
After failing to break above the 1.1600 barrier, EUR/USD is currently under renewed selling pressure and is testing the mid-1.1500s again on Monday. The US Dollar, on the other hand, rises slightly across the board as investors absorb Friday's big drop after the US employment data and turn their focus to trade.
The daily chart for the EUR/USD pair shows the pair met buyers just ahead of a bullish 100 Simple Moving Average (SMA) currently at around 1.1370. A flat 20 SMA, in the meantime, provides resistance at around 1.1640, the level to overcome to turn bullish. Finally, technical indicators corrected oversold conditions, but lost their upward strength just below their midlines, suggesting buyers are still on the sidelines.
In the 4-hour chart, the EUR/USD pair is range-bound, although there are no signs of a potential slide. The 20 SMA lost its bearish strength and turned flat in the 1.1480 area, while technical indicators remain directionless well above their midlines. The pair flirted with the 1.1600 level during Asian trading hours, with gains beyond the level turning the risk towards the upside in the near term.
SUPPORT 1.15387
SUPPORT 1.14950
SUPPORT 1.14520
RESISTANCE 1.16032
RESISTANCE 1.15832
After failing to break above the 1.1600 barrier, EUR/USD is currently under renewed selling pressure and is testing the mid-1.1500s again on Monday. The US Dollar, on the other hand, rises slightly across the board as investors absorb Friday's big drop after the US employment data and turn their focus to trade.
The daily chart for the EUR/USD pair shows the pair met buyers just ahead of a bullish 100 Simple Moving Average (SMA) currently at around 1.1370. A flat 20 SMA, in the meantime, provides resistance at around 1.1640, the level to overcome to turn bullish. Finally, technical indicators corrected oversold conditions, but lost their upward strength just below their midlines, suggesting buyers are still on the sidelines.
In the 4-hour chart, the EUR/USD pair is range-bound, although there are no signs of a potential slide. The 20 SMA lost its bearish strength and turned flat in the 1.1480 area, while technical indicators remain directionless well above their midlines. The pair flirted with the 1.1600 level during Asian trading hours, with gains beyond the level turning the risk towards the upside in the near term.
SUPPORT 1.15387
SUPPORT 1.14950
SUPPORT 1.14520
RESISTANCE 1.16032
RESISTANCE 1.15832
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.